how do you get to view an engineers report of a sinkhole and how much is it to fix it?

Asked by Sunflower, Venice, FL Tue Feb 22, 2011

IS IT WORTH IT TO BUY WITH A SINKHOLE,AS I SEE THEY CAN BE A GOOD INVESTMENT..

Help the community by answering this question:

+ web reference
Web reference:

Answers

8
Leslie Newman’s answer
Leslie Newman, Agent, Clearwater Beach, FL
Thu Sep 6, 2012
You're right, sinkhole properties can be a good investment. There are even investors who specialize in purchasing sinkhole properties. As has been mentioned, the property will carry a stigma into the future, which usually means it will not bring full market value upon resale, but if it is purchased right, that doesn't have to be a problem. In addition, many sinkhole repair experts maintain that sinkhole property that has been repaired is considered to be stronger than non-sinkhole properties in the area.
0 votes
Luzmavelez, Home Buyer, Dunedin, FL
Wed Nov 2, 2016
How do I get a copy of the initial and final reports of a repared sink hole of a house I want to buy?
0 votes
Luzmavelez, Home Buyer, Dunedin, FL
Wed Nov 2, 2016
Reports of sink hole at 3258 Fox Lake Drive 33618
0 votes
Allan Erps, Agent, Pearl River, NY
Wed Feb 23, 2011
Wow, Never heard of sinkhole damage being that much money to repair! Had one in my yard about 10+ years ago and just filled it up manually. Guess the builder must have buried the whole area trees!
0 votes
Steve Busse, Agent, 33708, FL
Wed Feb 23, 2011
Good morning, complex issue. I have had the opportunity to represent sinkhole sellers. The engineers report and other site inspection reports are ordered by the insurance companies. This provide the bases to determine if in fact its a sinkhole or land subsidence. Once determined to be a sinkhole bids will be secured to fill the areas involved. In my case the owners no longer wanted the home. I worked with the insurance company to cash out my client based on a constructive total loss. The insurance company paid what they believed to be a fair value and then I put the home on the market as a sink hole sale. The buyer bought the home as salvage. That payment plus the insurance companies check was equal to actual market value. It worked out well for my client. The cost for the sinkhole repair was 75000 and my client just did not want to wait and risk additional damage. If you have any additional questions please email. Thank you Steve Busse CRS, GRI,CLHMS, CDPE, SBUSSE@MSN.COM
Web Reference:  http://WWW.STEVEBUSSE.COM
0 votes
Bill Szydlow…, Agent, Tampa, FL
Tue Feb 22, 2011
If the seller filed a sinkhole claim with the insurance company, the seller could get it from the insurance company for you. Engineering reports are expensive, so I believe that only a few sellers would go out on their own and pay for one. In either case, the seller should have it, unless it has been thrown away when people clean out their homes to move. The cost to repair could be a few thousand to hundreds of thousands and will be based on what is stated in the engineering report. Once fixed professionally and properly, the home is solid, even though it is stigmatized and will be priced lower than other homes in the neighborhood that have not had a sinkhole repair.

Hope this helps.

Bill Szydlowski
Future Home Realty
813-323-4443
Web Reference:  http://www.tampamyhome.com
0 votes
Anna M Brocco, Agent, Williston Park, NY
Tue Feb 22, 2011
Ask whoever has the report if you can take a look....
0 votes
Gene Hacker, , Lake Isabella, CA
Tue Feb 22, 2011
Who has the report?

If the owner has the report..just ask to see it.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more